Sep 19, 2017
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A five-storey conserved commercial building at 167 & 169 Selegie Road (pictured) has been put up for sale for $20 million, said marketing agent Cushman & Wakefield.

With a land area of about 2,956 sq ft, the freehold property has a total floor area of around 10,292 sq ft.

It is situated in the Bras Basah-Bugis district. A bustling arts, educational, entertainment and cultural destination, the precinct is home to the Singapore Arts Museum, National Museum of Singapore, the School of the Arts and Kaplan Singapore, Singapore Management University as well as Wilkie Edge, Bugis Junction and The Cathay.

The property, which is sold with existing tenancy, is a few minutes’ drive from the Central Business District and the Orchard Road shopping belt. It is also within walking distance to the Little India MRT interchange station on the North-East Line as well as the upcoming Rochor MRT station on the Downtown Line.

“167 & 169 Selegie Road is an exceptional investment opportunity, given its freehold tenure, prime city fringe location in a historic precinct and proximity to two MRT stations,” said Shaun Poh, Cushman & Wakefield’s executive director for capital markets.

He expects the property to appeal to “end-users such as design houses, co-working operators and commercial schools, amongst others, seeking to own a prominent and historic building for their own operations, or opportunistic funds and investors looking for investment-grade assets with value-enhancement or yield generation potential”.

The tender for the property will close on 19 October.

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

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